GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) added another facility in greater Houston today as part of a larger commitment to the community, one that has spurred double-digit growth here over the last year.
In fact, Public Storage is so eager to serve the growing community, it has averaged more than one grand opening a month so far in 2019.
Put another way, there are 10% more Public Storage locations in greater Houston open today than there were at this time last year, or 124 facilities. Houston is one of the fastest-growing communities in the country, and one of the most competitive storage markets.
Some new options, like Public Storage 1001 S. Mason Rd., Katy, TX 77450 opening today, are storage facilities the company purchased to expand in the area. Most, however, replace old locations closed two years ago due to damage from Hurricane Harvey, one of the worst in U.S. history.
The company rebuilt these Reagan-era locations with weather in mind. It moved storage indoors, relocated entire buildings to higher ground, added improved drainage and expanded up and out, adding 43% more Houston storage units at the same locations.
One-story facilities with outdoor, drive-up units were transformed into high-end, multi-story Public Storage Orange locations, some with all climate controlled, indoor units.
Public Storage also added an eighth newly constructed location that opened earlier this month as Public Storage 10200 S Main St, Houston, TX 77025. The other modernized facilities were completed a few months ago and welcomed many returning customers.
All of this growth is not new for the company; Houston has long been a focus for Public Storage.
After all, H-Town is hot, no matter how you measure it, from an 11% increase in population over eight years, according to recent data from the Census Bureau, and jobs growth that is 56% higher than the national average, according to the U.S. Bureau of Labor Statistics.
So even before storm waters dried in 2017, company officials decided to launch a coordinated effort to rebuild.
“We had a commitment to stay in the community, and we didn’t hesitate,” said Tim Stanley, Senior Vice President of Capital Investments. “The wrecking balls were out within a week after the storm, with plans to reinvest. We moved as fast as we possibly could.”
Many customers have been with Public Storage in Houston for years. They remember Harvey and were still rebuilding their community, and their own homes, when Public Storage reopened locations earlier this year.
“They were still waiting because contractors are hard to come by. They’re so busy here,” said Raymond Marquez, an area manager who has been with the company for 10 years. “For some of my previous customers, it’s as if we opened just to put their items back in here.”
Public Storage will continue to work hard to serve its customers in Houston, and to serve them well.
“If you want to be in a competitive marketplace, you better have competitive product, and we have done our best to put our best foot forward,” said Stanley.
Twelve new Houston-area facilities opened over the last year:
Public Storage 755 Northpark Dr., Kingwood, TX 77339
Public Storage 1507 East Beltway 8 S, Pasadena, TX 77503
Public Storage 9811 North Freeway, Houston, TX 77037
Public Storage 2700 Shaver Street, Pasadena, TX 77502
Public Storage 13300 Hempstead Rd, Houston, TX 77040
Public Storage 5323 Milwee Street, Houston, TX 77092
Public Storage 8555 Larkwood Drive, Houston, TX 77074
Public Storage 707 Maxey Rd, Houston, TX 77013
Public Storage 24988 FM 1314 Rd, Porter, TX 77365
Public Storage 1001 S. Mason Rd., Katy, TX 77450
Public Storage 10200 S Main St, Houston, TX 77025
We help customers in their time of need, whether moving, downsizing or storing for business. Public Storage was founded in 1972 with a single Southern California self-storage building. We’ve grown a bit since then, to more than 2,444 locations around the country, making us the largest in the business today and a member of the S&P 500. We offer self-storage options of all shapes and sizes and the same personal attention from on-site managers that we’ve been giving from day one. For stockholders, we are a real estate investment trust, meaning we distribute a large portion of revenue to public investors in the form of dividends. Learn more about Public Storage at https://www.publicstorage.com.